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Dec 4 Free Travel Insurance You May Not Know You Have

I've had my fair share of travel disasters, which caused me to pay more attention to travel insurance. A few years ago I got a VentureOne credit card from Capital One so I could rack up points with my big flight purchases. I chose this card mainly because it had no annual fee, a reasonable APR, no foreign transaction fees, and a great purchase point system. However, a recent review of my credit card benefits reminded me that I also have decent built-in insurance as a cardholder.

While not all credits cards offer these services, here are 4 travel-related coverage options you may not know you have in your wallet:

Overview of my travel-related benefits with my VentureOne card.

1. Auto Rental Collision Damage Waiver

Screenshot of Auto Rental Collision Damage Benefit at Capital One.

The Fine Print:If you have personal automobile insurance or any other insurance covering theft or damage, this benefit acts as supplemental coverage; meaning they will cover the expenses that are not reimbursed. However, if you decline the rental insurance, the benefit reimburses you for the covered theft or damage.

2. Lost Luggage Reimbursement Benefit

Screenshot of Lost Luggage Reimbursement benefit at Capital One.

The Fine Print:This is also a supplemental benefit, you must file with your existing insurance first and provide proof. In turn, CapitalOne will reimburse you for the difference.

3. Emergency Card Replacement and Emergency Cash Disbursement

This will come in handy in the unfortunate event of a loss or theft of your credit card or cash. This is a 24 hour, 7 day a week global service that allows you to quickly get a replacement card sent to you and/or get emergency cash at a location convenient for you.

4. Travel Accident Insurance

You can receive coverage up to $250,000 for common carrier accidental death or dismemberment, at no additional cost for you, your spouse, and unmarried dependent children.

The Fine Print:This is for accidents that occur when you are riding as a passenger, entering or exiting any licensed common carrier. This does not apply to accidents that may occur during your trip.

These are a few of the built in traveller's insurance provided by my VentureOne card. Some credit cards, like the mecca of travel cards Chase Sapphire or the United Miles Plus Explorer card, offer more in-depth travel benefits including trip interruption, delay, and cancelation insurance.

Things to Consider

In order to redeem most of these benefits you need to purchase your fare using your credit card.

Purchasing travel insurance is always a good idea.Most of these benefits are supplemental, which is awesome in ensuring that you receive the maximum coverage for your claims. Researching travel insurance options can be overwhelming. Luckily, Reviews.com has a comprehensive review of the best travel insurance. They researched the top 22 providers in the nation and ranked their benefits based on 1) trip cancellation/ interruption, 2) emergency medical care, 3) medical evacuation & repatriation, 4) baggage/personal item loss and delay, and 5) 24/7 worldwide assistance.

What kind of travel benefits do you have on your credit card? Drop your jewels in the comments.